Home – New Forums Money matters Offline Bank Account records – Best Practices

  • This topic is empty.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • #999603
    Marcogiu
    Member
    • Total posts: 1
    Up
    0
    ::

    Hello everyone,

    I’m in the process of setting up a new business where I charge my customers a monthly fee for my service. What are the best practices to collect and maintain customer’s account details offline?
    Mine it’s not an online business so can’t use any PCI compliant gateway on my website for payment processing. The card details should be collected in the Service agreement form and then processed through a recurring payment gateway. I’m wondering how gym/fitness club are able to collect and keep records of account details in plain on the membership form. Is there any legal requirement or law that regulate how these information are collected and stored?

    Thanks,
    Marco

    #1220453
    Paul – FS Concierge
    Keymaster
    • Total posts: 3,488
    Up
    0
    ::

    Hi And Welcome to Flying Solo [USER=115150]@Marcogiu[/USER] .

    It is great to have you!

    Thank you for joining our community and posting.

    Hopefully some helpful members will be along soon with some advice to point you in the right direction.

    Cheers

    #1220454
    James Millar
    Participant
    • Total posts: 1,739
    Up
    0
    ::
    Marcogiu, post: 266202, member: 115150 wrote:
    Hello everyone,

    I’m in the process of setting up a new business where I charge my customers a monthly fee for my service. What are the best practices to collect and maintain customer’s account details offline?
    Mine it’s not an online business so can’t use any PCI compliant gateway on my website for payment processing. The card details should be collected in the Service agreement form and then processed through a recurring payment gateway. I’m wondering how gym/fitness club are able to collect and keep records of account details in plain on the membership form. Is there any legal requirement or law that regulate how these information are collected and stored?

    Thanks,
    Marco

    You could consider Xero with Gocardless as the DD integration – we use and it works well. There is another platform called “invoiced” which is purely invoice debtors and receipts in the cloud. It integrates with gocardless as well. The beauty being that gocardless is the third party responsible for the process so compliance is dealt with by them.

    Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900
    #1220455
    RunicConvenience
    Member
    • Total posts: 186
    Up
    0
    ::

    personally with all the risks of datatheft and privacy I would never want to maintain customers “credit card” details would much prefer a third party that maintains said subscription token and does the regular billing for me.

    also if your “membership forms” have credit card details listed on them your now needing to make sure that “filing cabinet” is well secured and as soon as a membership is revoked that paper is being correctly destroyed because just binning it is not enough.

    #1220456
    PowerofWords
    Member
    • Total posts: 179
    Up
    0
    ::

    I could be wrong, but sometimes we over-complicate things. Is recurring monthly fees available as a PayPal or Stripe subscription, letting them handle it? Or do it in your own invoicing system. Mine, Harvest, has a simple recurring subscription invoice and, as well as offering your own direct deposit as payment (free) also can be web invoice (PayPal and credit cards). It can be sent via email.

Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.